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COPENHAGEN - Danish lender Jyske Bank has specified its 2025 net profit expectations at the upper end of its previously announced DKK 3.8-4.6 billion range, according to a press release issued Tuesday.
The bank reported earnings per share of DKK 39.4 for the first half of 2025, a 1% increase compared to DKK 38.8 in the same period last year, despite facing headwinds from significantly lower short-term interest rates.
Core income declined 5% to DKK 6,503 million from DKK 6,828 million a year earlier, primarily due to reduced net interest income following Danmarks Nationalbank’s policy rate decrease to an average of 2.1% in H1 2025 from 3.6% in the previous year.
Net fee and commission income rose 14%, driven by increased assets under management and higher customer activity. Core expenses edged up slightly to DKK 3,195 million from DKK 3,160 million, influenced by the relocation of premises in Copenhagen, though underlying core expenses decreased by 1%.
The bank reported a DKK 47 million income from loan impairment charges compared to a DKK 95 million expense in H1 2024, reflecting what the bank described as solid credit quality. Management’s estimate for loan impairment charges stood at DKK 1,877 million at the end of the period, up from DKK 1,782 million at the end of 2024.
Jyske Bank maintained strong capital ratios with a common equity tier 1 capital ratio of 16.3% and a total capital ratio of 21.5%, compared to 16.6% and 21.9% respectively in H1 2024.
The bank also announced that Ingjerd Blekeli Spiten took office on June 1 as Head of Personal Banking and Wealth Management, replacing Niels Erik Jakobsen who retired after nearly 38 years with the bank.
On July 7, Jyske Bank consolidated its Copenhagen operations by relocating 950 employees to a new office at Kalvebod Brygge.
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